Aishide received a strategic investment from Alibaba and once “go” to the pioneer loan because of business overlap
On April 27, Shenzhen Aishide Co., Ltd. (002416, hereinafter referred to as “Aishide”) issued an announcement that the company will not issue more than 7910 non-public shares.310,000 shares (including the capital), the total amount of funds raised does not exceed 4.07 billion.Ai Shide plans to issue shares to Alibaba (China) Network Technology Co., Ltd. (New York Stock Exchange: BABA, hereinafter referred to as “Alibaba”) through this non-public offering, introducing it as a strategic investorIs shown as 1).The reporter noticed that Sesame Credit, Tongdun, etc. have been their technology partners of holding online micro-loans; before, September 29, 2019, Ai Shide had another small loan company, referred to as “Pioneer Small Loan”.Esther ‘s budget for this non-public offering of shares is expected to be no more than 4.07 billion.Regarding the use of raised funds, Ai Shide said that after deducting the issuance costs, all will be used as supplementary working capital.In the “Announcement on Dating Strategic Investors and Signing Strategic Cooperation Agreements and Related Party Transactions” released by Ai Shide today, Ai Shide also announced that the two parties will plan to establish a joint venture company.The specific shareholding ratio of the joint venture company is: Alibaba holds 51%, Ai Shide holds 39%, and Guangdong Xinlian Investment Advisory Partnership (Limited Partnership) (ie “Guangdong Xinlian”) holds 10%.It is reported that Ai Shide and Alibaba have signed a “strategic cooperation agreement”, Alibaba will become a shareholder of more than 5% of Ai Shide, will have the right to appoint a non-independent director to the Ai Shide board of directors, the director will enterThe strategy committee under the board of directors.Ai Shide said that there is a certain synergy between Alibaba and listed companies.Alibaba’s core international advantages in Internet, artificial intelligence and financial technology, etc., through technological empowerment, can help Ai Shide to achieve the digital upgrade of the supply and marketing system, significantly enhancing its core competitiveness and innovation capabilities.From the information disclosed in the 2019 annual report of Ai Shide, the four main businesses of Ai Shide are: intelligent terminal distribution, financial and supply chain services, smart retail business and communication services.According to the annual report, Ai Shide’s smart terminal distribution and supply chain network has covered the whole world.There are 30 branches and offices in China to serve 31 provincial-level regions, and there are also storage layouts in 11 countries and regions overseas.At the same time, Ai Shide is an Apple Authorized Reseller (APR) and Assurance Service Provider (ACS). It operates nearly 100 Apple retail stores and repair stations and manages more than 600 Apple MONO stores.According to the report’s baseline, the number of 3C new distribution customers of Ai Shide has exceeded 20,000, an increase of 94% over the previous year, covering 3C digital, fashion, photography, entertainment, catering, Internet cafes, e-commerce and other new channel scenarios.Also according to the 2019 annual report, Ai Shide’s annual operating income was 559.6.9 billion, down 1 every year.78%; net profit attributable to shareholders of listed companies is 3.4.3 billion, an annual increase of 470.67%; until the end of 2019, Ai Shide’s total assets were 102.2.4 billion, down by 0 every year.twenty two%.From the perspective of the proportion of revenue, smart terminal distribution is still the business with the highest proportion of Esther.However, no matter the specific amount or proportion, they overlapped with the same period of last year.At the end of 2019, the revenue of Ai Shide’s smart terminal distribution business was 402.5.8 billion, a year-on-year decline of 13.36%; in terms of total revenue ratio, it expanded by nearly 10 subdivisions to 71.93%.With less than 2 billion net small loan revenue actually paid in, 1 billion sesame credit, Tongdun, etc. are its technology partners in the financial and supply chain services sector, which is ranked second in the 2019 report that Ai Shide can account for the total revenuebusiness.The annual report shows that Ai Shide’s financial and supply chain business revenue in 2019 is about 12.9 billion US dollars, an increase of 65% over the previous year.In the composition of total revenue, the reporter saw that the financial and supply chain business accounted for Aishide’s total revenue from 13 in 2018.76%, rising to 23 in 2019.14%.According to Aishide’s 2019 annual report, Aishide’s financial and supply chain services mainly rely on its smart terminal supply chain scenarios and online small loan certificates, focusing on the entire chain of product circulation to provide financial and supply chain services for upstream and downstream customers.Ai Shide claims that its affiliated online microloan company has access to the continuous credit information system.According to the 2019 annual report, Jiangxi Ganjiang New Area Aishide Network Microfinance Co., Ltd. (hereinafter referred to as “Aishide Small Loan”) is an Aishide holding subsidiary.But judging from the contribution of this small online loan company with a registered capital of US $ 1 billion to revenue, it currently seems to be limited.Qizha and the 2019 annual report jointly showed that the paid-in capital of Aishide small loan was 1 billion, and it was established in Jiangxi Province on May 17, 2017.As of the end of 2019, the total assets of Ai Shide small loan is 11.7.1 billion yuan, with a net asset of 11.2 billion yuan, revenue 1.6.3 billion yuan, with a net profit of 4,148.150,000 yuan.Although the current revenue of Aishide Microloan is relatively low, from the perspective of its gradual scale in the past three years, Aishide Microloan is not small.According to the official website information, the accumulated financing amount of Aishide small loans has reached 65.8.1 billion yuan, with a cumulative number of 63 transactions.300,000, the number of progressive service customers is 62.230,000.In the list disclosed by its technology partners, the reporter saw five institutions including Sesame Credit and Tongdun Technology.In the introduction on the official website, Aishide’s small loan products mainly include four categories: “Friendly Learning Installment”, “House Loan”, “Movable Property Financing” and “Miaoji”.Among them, regarding the “Youxue installment”, according to the official website, this product is a credit product for installment payment of education consumption launched by Ai Shide.1.One billion “buy” 1.400 million “sell”, once transferred Pioneer Small Loan due to “duplication of business” and according to the Ai Shide annual report, during its 2019 reporting period, its wholly-owned subsidiary Beijing Ruicheng Huida Technology Co., Ltd. (hereinafter referred to as “Suicheng””Huida”) transferred the equity of Hainan Pioneer Network Credit Microfinance Co., Ltd. (hereinafter referred to as “Hainan Small Loan”).As for the Hainan microfinance, in fact, in the announcement of Ai Shide in November and December 2015, it was also referred to as “Pioneer microloan”.Ai Shide said in the 2019 annual report: “In order to optimize the company’s industrial layout and effectively focus on advantageous resources, the company’s wholly-owned subsidiary Ruicheng Huida made a price1.3.8 billion yuan to transfer its 51% stake in Hainan Small Loan to Beijing Gulf Capital Real Estate Development Co., Ltd.”As of December 31, 2019, Ashtech stated that it had received 60% of the transfer and transferred control, and received the remaining 40% of the transfer on March 30, 2020.”Announcement on the Transfer of the Equity of Hainan Pioneer Wangxin Microfinance Co., Ltd., a wholly-owned subsidiary of Beijing Ruicheng Huida Technology Co., Ltd.” (hereinafter referred to as “Announcement No. 2019-069”, issued on September 29, 2019), The reporter saw the details of the transfer.According to its disclosure, at the 32nd (interim) meeting of the 3rd Board of Directors on November 16, 2015, Ai Shide agreed to use its own funds.US $ 1.2 billion increased capital to Hainan Small Loan and obtained 51% of its equity, increasing the registered capital of Hainan Small Loan to 2.04 billion.As for the reason for the transfer of Hainan small loans, the title of “Announcement 2019-069”, Hainan Small Loan and Aishide Small Loan business scope includes small loan business, which has played a role in the combination of Aishide’s “production + financing” strategyThe role is important, but there is overlap in the industrial layout and business layout.”Announcement 2019-069″ disclosed that as of June 30, 2019, Hainan Small Loan had total assets of 2.6.9 billion yuan, with a net asset of 2.6.6 billion yuan; revenue is 1279.530,000 yuan with a net profit of -107.760,000 yuan.Ai Shide proposal, the company does not exist to provide guarantee for Hainan small loans, entrust financial management, Hainan small loans also do not occupy the company’s funds.The proceeds from the transfer of the equity of Hainan Small Loan will be used to transfer the main business of Ai Shide.According to the “Announcement 2019-069”, before the transfer, the shareholding ratio was 24.99% vs 24.01% Hainan Small Loan is second and third shareholders are Phoenix Asset Management Co., Ltd. (hereinafter referred to as “Phoenix Asset”) and Wanjun (Hangzhou) Venture Capital Management Co., Ltd. (hereinafter referred to as “Wanjun (Hangzhou)”)).The “Announcement on the Investment of Hai Rui Pioneer Microfinance Co., Ltd., a wholly-owned subsidiary of Beijing Ruicheng Huida Technology Co., Ltd.” published on November 16, 2015, and the “Announcement on the Investment of Hainan Pioneer Microfinance Co., Ltd.” on December 30, 2015In the announcement regarding the supplementary agreement for the wholly-owned subsidiary Beijing Ruicheng Huida Technology Co., Ltd. to invest in Hainan Pioneer Wangxin Microfinance Co., Ltd., the reporter saw that Phoenix Asset and Wan Jun (Hangzhou) were their legal representatives at that time.For Zhao Miaomiao and Sheng Jia; meanwhile, Hainan Small Loan is also called “Pioneer Small Loan” by Ai Shide (as shown in Figure 3).In addition, according to a notice issued by the official website of Weixin on December 3, 2019, since the overdue payment and the death of the real controller Zhang Zhenxin occurred in various parties on the Weixin platform in July 2019, some key positions such as core executives have been absent.In the list of absent executives, Zhao Miaomiao is the chairman of Jiahe Group and Shengjia is the CEO of Wangxin Holdings.The network information platform launched a recall notice.Sauna, Ye Wang Huang Xinyu Editor Zhao Ze proofreading Li Ming

Back to Top